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Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 02, 2016
Jul. 04, 2015
Jul. 02, 2016
Jul. 04, 2015
Revenues        
Manufacturing revenues $ 3,491 $ 3,223 $ 6,672 $ 6,274
Finance revenues 20 24 40 46
Total revenues 3,511 3,247 6,712 6,320
Costs and expenses        
Cost of sales 2,889 2,635 5,524 5,144
Selling and administrative expense 318 329 626 666
Interest expense 44 42 87 85
Total costs and expenses 3,251 3,006 6,237 5,895
Income from continuing operations before income taxes 260 241 475 425
Income tax expense 82 72 146 128
Income from continuing operations 178 169 329 297
Loss from discontinued operations, net of income taxes (1) (2) (2) (2)
Net income $ 177 $ 167 $ 327 $ 295
Basic earnings per share        
Continuing operations (in dollars per share) $ 0.66 $ 0.61 $ 1.21 $ 1.07
Discontinued operations (in dollars per share)   (0.01)   (0.01)
Basic earnings per share (in dollars per share) 0.66 0.60 1.21 1.06
Diluted earnings per share        
Continuing operations (in dollars per share) 0.66 0.60 1.21 1.06
Discontinued operations (in dollars per share) (0.01)   (0.01) (0.01)
Diluted earnings per share (in dollars per share) 0.65 0.60 1.20 1.05
Dividends per share        
Common stock (in dollars per share) $ 0.02 $ 0.02 $ 0.04 $ 0.04